Short-term deposit at high interest rates. Where are the best conditions? Where to open a monthly deposit at a high interest rate Loans and short-term deposits
Banks issue banking products such as short-term deposits - their validity is only a few days - and this is what attracts depositors the most. The reason for the appearance of such a product is that the threshold for increasing the profitability of the loan portfolio has been reached and banks have to look for other sources of profit. To attract free funds from the population, banks are developing more and more new banking products, and the line of these deposit products continues to expand, while offering various options for investing money and increasing interest rates.
We have already talked about demand deposits, but banks also have time deposits, the validity period of which varies from several days to several years.
Time deposits, which we will call short-term, are a good means of saving and generating income. The only condition for the profitability of such deposits is that significant real income can be obtained by investing very large funds.
Today, the most attractive rate on short-term deposits is 14% per annum, but not all banks risk taking this step. Often, the initial amount for opening a deposit, taking into account the high interest rate, can be several hundred thousand rubles. This is a selective factor for the wide spread of such financial transactions. Therefore, in order to significantly increase your income in this way, you will have to invest very large amounts of money, which not everyone can afford. But using one of the offered deposits, you can try to accumulate a large amount over a certain period of time.
Many banks offer the use of short-term deposits for the sole purpose of securing customer funds. And the attractiveness of such deposits is aimed primarily at maintaining the purchasing power of the funds at least below the level of existing inflation. We would like to add that the interest rate on short-term loans for a period of several days fluctuates between 10-14% per annum.
When investing money in short-term deposits, banking institutions offer conditions that are not attractive, but sufficient to maintain the purchasing power of clients’ financial assets at the inflation rate. And the average rate on these deposits is now from 6 to 9% per annum.
As an example of a short-term deposit, we will give a banking product of the Bank of Moscow. This is a new product in the wide range of deposits, more suitable for representatives of medium and small businesses. It is clear that businesses and companies often have extra funds and why not try to make money in a short period of time using them?
The “Overnight” deposit offered is mainly designed to attract funds from individual entrepreneurs and legal entities. The validity period of such a deposit is 1 day. It is noteworthy that the bank sets the interest rate every day, and it directly depends on the state of interbank market rates. The minimum deposit amount of the Bank of Moscow is from 1 million rubles to 1 billion rubles. It is not difficult to imagine what kind of income is received from the invested amount, even if the minimum rate is 10% per annum. The main currency for a time deposit is the ruble, which, according to banks, is more susceptible to inflation. This all applies to the proposed Overnight product. Other banks, as a rule, offer the opening of time deposits for a period of 2 to 7 days. The minimum deposit amount varies and can sometimes reach several hundred thousand rubles.
If we talk about the attractiveness and profitability of short-term deposits, we must remember that banks are also vulnerable and can be subject to sudden financial disasters. A depositor takes on a huge risk if he decides to put all his funds on one deposit in one bank, since in the event of an unexpected bank bankruptcy, he may lose all his savings at once. We have already written that the state guarantees insurance of deposits in the amount of no more than 700 thousand rubles and gives higher priority to the protection of investments of individuals. But the funds that were invested by an individual entrepreneur or a company can easily disappear. And here, one of the means of protecting your finances is the option of placing funds on short-term deposits in several banks. In this case, your money will be to some extent insured against possible troubles.
And almost everyone wants to place their deposit at high interest rates, but how to do this?
The bank is ready to pay clients differently for different benefits
It's no secret that the main principle of a bank's functioning is to earn more money than to spend. There are two main ways to earn money in banking:
lending.
If the bank, in principle, does not need additional financial resources for cash settlement, then in order to lend, it needs to have funds that are issued to clients.
The main source of attracting financial resources to business are deposits. And even despite the different interest rates, they are all similar to each other, but, of course, have slight differences.
Interest - a way to attract customers
In order to attract the maximum amount of funds in the shortest possible time, banks offer clients to place deposits at high interest rates. And naturally, the majority of people will choose those financial institutions that set the highest rates.
After all, if the bank around the corner offers more favorable conditions, then why not go there to make a deposit?
Financial advisors can, of course, start talking about the fact that you don’t need to look at the interest rate, but rather study the bank’s rating, its connections, reliability and financial stability, especially if it’s about foreign currency deposits at a high interest rate.
There is some truth in this and a certain part of lies. In essence, with these words they are trying to play on your desire not to be left with your nose and not lose your money.
This, by the way, is a fairly effective method that allows some banks to have a wide base of clients without asking any of them to place a deposit at high interest rates.
Highest deposit rate
Honestly, since 2009, most people have learned not to trust their money to banks, which then “burst” like bubbles. But little by little, confidence in banks is being restored, although current currency fluctuations are causing concern. But the former high-interest foreign currency deposits, of course, can no longer be found.
If you analyze the banking services market, you will notice certain trends that have become firmly entrenched in the Russian Federation. Let's look at them.
Of course, banks are different from bank to bank, and everyone has their own personal policy regarding deposit programs, offering deposits at high interest rates. Despite possible significant differences in interest rates on deposits, the difference between credit and deposit conditions is basically the same.
That is, the difference between the average rate on deposits and loans for most financial institutions of the Russian Federation is at the same level.
Which deposits are best to choose to get the maximum benefit?
Unfortunately, current deposit conditions, even bank deposits at high interest rates, do not allow you to really make money on your money. This was especially clearly understood by bank clients who preferred to open deposits in rubles in the hope of a higher rate than on foreign currency.
Due to the fact that the ruble fell sharply against the dollar, the actual capital of investors depreciated by almost half. Meanwhile, at the end of the term, high interest rates will bring no more than 13% income. This is even if you do not take inflation into account. And those who were able to sense the risk and place a deposit in dollars, on the contrary, won.
Comparing the interest rates on deposits offered by banks in the Russian Federation with the level of European countries, one can see that banks abroad are willing to pay much less for monetary resources. Accordingly, the size of the loan premium is also much lower than under the conditions offered on the Russian financial services market.
Criteria you should pay attention to when choosing the type of deposit account
In order to decide how to place money in the bank as profitably as possible, it is worth considering the following points:
interest rate level;
deposit term;
conditions for termination of the contract, obligations of the parties;
reputation of the financial institution;
Let's look at them in more detail.
The terms of the deposit should not be misleading
When looking for the highest interest rate, it's easy to fall victim to scams. If the level of deposit interest clearly differs from average market conditions, then this should immediately raise red flags.
For example, this may mean that the bank is critically short of cash. This position can lead a banking institution to rapid bankruptcy. After all, by increasing rates on deposits, you automatically need to increase commissions and interest on loans. And this already threatens that clients may turn away from the bank.
Are you looking for high-interest deposits for 6 months? Please review the following information
Often the highest rates are observed in deposits that are placed for 9-12 months in national currency. In addition, an important factor is the conditions for withdrawing interest and the deposit body.
If you provide the bank with information that you will not withdraw the deposit early, you can count on offers with more favorable conditions for yourself. Although there are various programs for quickly attracting money supply if the bank does not have enough working capital.
In such cases, financial institutions offer short-term deposits at high interest rates with a placement period of 1 to 3 months. But they are the hardest to make money on. It just looks like they are offering you as much as 15%, but this is not for the period of the contract (the period for which the money is placed), but for the entire year. So, when considering short-term deposits at a high interest rate, divide the proposed interest level by the term of the deposit agreement.
It is also worth noting one regularity - the larger the banking institution, the lower the deposit rate it can afford. Yes, on the street you can see some unknown bank offering 15, 17, or even 20% per annum.
Should you believe that your money will come back to you? There is a very high probability that this small financial agent will burst in 3-4 months, and your money will end up in someone else's pocket, but not in yours. Even if you want to place deposits for a month at a high interest rate, no one will give you a guarantee that any such financial organization will return your money.
At what level are deposit offers today?
Rates can change daily, as they directly depend on the bank’s policies and the operating situation in the financial services market.
If you go to the banks today, on average you will be offered:
time deposits in rubles - from 6.0% to 10.0%;
for the same deposits, but in US dollars - no more than 3%;
deposits with an unlimited validity period - no more than 2% if placed in rubles and even lower - in foreign currency.
You can compare these figures with the average inflation rate in Russia, which since the beginning of 2015 has amounted (according to the official version) to just over 10.5 percent. And if we take into account the fact that the ruble exchange rate has fallen by half, then everything looks even worse.
Thus, you won’t be able to really make money on any type of deposit.
Read what you sign
There is a sad fact that of all clients, no more than 10% read the contract. A distinctive category are lawyers who carefully read every word, trying to find any pitfalls.
Often, agreements for deposits in rubles at a high interest rate, just like any other, may contain opaque conditions that come with pitfalls. For example, you are interested in a high interest rate, which is several points higher than in other banks.
The agreement of such a bank may stipulate the payment of a commission when placing or withdrawing a deposit. Or there may be penalties for early withdrawal or something similar.
Smart investing is an important component of financial success. Choosing the optimal deposit with a higher interest rate for a short period of time is not easy - numerous bank offers are filled with various conditions and nuances, which require a lot of time to study. You can find the most profitable short-term deposits at high interest rates in Moscow on the website portal, which combines all the current information on deposits in Moscow.
Choosing a bank to place money
Often, citizens, having a significant amount of funds in rubles or foreign currency, strive to find favorable conditions in banks for the safe and profitable placement of this amount. Most people choose a bank to open a deposit - the most reliable and standard way of investing capital, which allows not only to save finances, but also to provide some profitability in annual percentage terms. Many banks today offer depositors deposits for short periods, where there are high interest rates, minimal risks, as well as interesting conditions for the client. Income from bank deposits for a short period of time is higher than from long-term investments, where a citizen or legal entity often has the opportunity to receive money back at any day while retaining (partially or completely) accruals at the rate. Deposits for a short period of time at a high interest rate in Russian or foreign currency, as a rule, are characterized by maximum profitability, since they are not subject to withdrawal until the moment determined by the terms of the banking product.How to choose the best option for an urgent investment?
Finding the most profitable short-term deposit in rubles for a month in dollars for 180 days on your own is not always easy, because when choosing, you should take into account not only interest rates, but also the possibility of an insured event, the likelihood of early withdrawal, partial replenishment, permissible limits for foreign currency deposits and others factors. The website portal offers a convenient service where the best short-term deposits in rubles in Moscow banks are presented. All information presented is relevant, and the sorting filter allows you to select any criteria of interest:- planned deposit amount;
- lending period;
- Russian or foreign currency;
- participation in the insurance program;
- additional conditions - capitalization, preferential termination, replenishment, conditions for early withdrawal of funds, etc.
Advantages of using the website service
Do you want to know what short-term deposits in foreign currency are offered by capital banks? Do you want to find a profitable deposit in rubles? Are you planning to invest a large amount for a short period of time? Any deposits and the best rates on short-term bank deposits are presented on our resource. Users can appreciate the following advantages of the portal:- always up-to-date, systematized information;
- wide functionality for selecting optimal conditions;
- convenient navigation;
- quick access to any offer.
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Below are the most profitable short-term deposits of 2019 with high rates.
Conditions
Any citizen of the Russian Federation can become a depositor of one of the banks of the Russian Federation, and a minor can also be a client of a financial credit institution.
Persons who are not citizens of the country can also open a short-term deposit. To conclude a transaction, you only need to provide the documents requested by the bank.
Short-term deposits, like all other deposits for individuals, are guaranteed by the state, that is, insured.
They can be placed for a period of one month to six months. Deposit rates depend on many factors, but can reach 10-12.0% per annum.
You can open a deposit not only at a bank branch, but also at a client bank. The second option allows you to get a higher rate.
How to open?
You can conclude a deposit agreement to place your own funds remotely. To do this, it is enough to have a card imitated by this bank, a mobile phone and register with the client bank.
This method is ideal for young, active people who have little free time and no desire to stand in line at a bank office.
Opening deposits remotely allows you, without visiting a credit institution, to conclude an agreement, view the accrual of interest (statement), withdraw early, close due to the expiration of the agreement, or extend your deposit.
We will tell you how to open an urgent microloan on a Qiwi wallet online without refusal in ours. Here you will find loan terms and a list of required documents.
If you want to find out how to open it, then you need to follow the link provided.
If you are a fan of the classic way of making a deposit, then you need to:
- come to the bank office;
- get acquainted with current offers (examine the deposit line);
- read the deposit agreement and sign it;
- deposit money into the account.
Where to open a short-term deposit at a high interest rate?
We invite you to familiarize yourself with the current 2019 offers for short-term deposits offered by the largest banks in the Russian Federation:
| Bank | Mini—
small period |
Sum | Bid | Note |
| Sberbank | 1 month | 1 000 | 6,03-9,07 | Interest may be capitalized |
| Rosselkhozbank | 1 month | 3 000 | 7,15-10,3 | The deposit can be opened remotely or in the office |
| VTB 24 | 3 months | 100 000 | 8,27-9,53 | Interest capitalization or monthly payment, preferential terms for early termination |
| Alfa Bank | 92 days | 10 000 | 10,61 | Capitalization, remote opening |
| MDM | 30 days | 10 000 | 6,2-10,9 | Payment of interest at the end of the term |
| RosBank | 3 months | 15 000 | 7,8-8,8 | Opening online - +0.3% to the rate |
| Eastern Express | 1 month | 30 000 | 11,41 | Bonus for regular customers - +0.5% to the rate, for pensioners - +0.1% to the rate |
Interest rates
The interest rate largely depends on the conditions that the potential investor applies for, as well as on the category of clients to which he belongs.
That is, the amount of interest offered by one or another bank of the Russian Federation will be influenced by:
- interest calculation method: simple, capitalization;
- deposit currency;
- placement period (1, 3, 6 months);
- interest payment method: monthly or at the end of the period;
- possibility of partial revocation;
additional bonuses on rates: growing percentage (when adding to a deposit, increased rate when prolonging a deposit, etc.);
- method of concluding an agreement (in the office or remotely).
Please note that quite often banks offer regular clients or pensioners rates higher than those offered under standard conditions.
The table shows the current rates for 2019 for large banks in the Russian Federation:
Requirements for depositors
Regular depositors know that banks are very happy to sign deposit agreements with clients and accept money for safekeeping.
Credit and financial institutions do not put forward any special requirements for residents of the country. When contacting the bank, the client must have identification documents.
After consultation regarding the choice of deposit, he must sign the documents and deposit money into the account. Non-residents of the country have to go through something completely different.
To become a depositor of one of the Russian banks, this category of potential clients must provide the bank with an expanded list of documents:
- civil passport with a translation into Russian (must be notarized);
- migration card;
- other documents that confirm legal stay and availability of work in the Russian Federation.
In addition to this list, the bank may request other certificates and documents.
List of documents
To open a deposit in one of the banks of the Russian Federation, a potential client needs to bring to the nearest office of a financial institution:
- identification document (usually a passport);
- TIN (if available);
- pension certificate (upon retirement);
- birth certificate (if the passport has not yet been received).
As for the pension certificate, in some banks this document allows you to make deposits at a higher interest rate or other favorable conditions (for example, partial withdrawal without loss of interest).
Please note that when withdrawing a deposit due to the expiration of the term or early closure of the contract, some financial institutions ask, in addition to the passport, a second identification document of the client.
How to withdraw money?
By withdrawing the deposit ahead of schedule, withdrawing it partially or due to the expiration of the contract, the bank client can choose the method in which it would be more convenient for him to return his savings.
The bank offers three options for transferring funds to the client:
- to a bank card that is opened in this bank;
- to the client's current account;
- in cash through the branch cash desk.
Please note that if the deposit amount is large and the client wishes to receive it in cash, then in case of early withdrawal or partial withdrawal of the deposit, it is necessary to notify the bank branch of your decision 1-2 days in advance.
This can be done over the phone, by calling the hotline, or by visiting a bank branch in person. Otherwise, the bank’s cash desk may not have the requested amount.
How to close a deposit?
If the deposit is about to expire, the client has two options. The first is to prolong the deposit.
To do this, you must come to a banking institution and write an application to extend the deposit (if automatic renewal is not provided for by the terms of the agreement) on the same conditions, or enter into a new deposit with different conditions.
If the client wishes to withdraw his savings from a banking institution, then on the day the period ends, he must write an application to the bank to close the deposit and transfer funds to the card (account) or issue cash through the branch’s cash desk.
The responsible bank employee will close the transaction and, according to the deadlines, usually within a few minutes, will transfer the deposit amount and accrued interest to the card or account.
Advantages and disadvantages
When looking for a bank to which you, as a client, could entrust your savings, you need to compare the positive and negative aspects of such cooperation and a future transaction.
For example, when opening a deposit for a short term, the investor will strive to find an offer on the financial market with the maximum interest rate.
But in addition to this, you need to look for a bank that:
- deposits are insured, that is, the financial institution is a participant in the deposit insurance system;
- an extensive network of offices, ATMs;
- the ability to track your contribution remotely;
- minimum terms for withdrawal of deposits, etc.
Today, banks are active, and their main source of existence is the deposits of the population. That is why financial institutions are developing entire deposit lines with different conditions that can satisfy the needs of different segments of the population.
What parameters affect the profitability of the deposit?
As you know, deposits are different and have different contract terms. That is why, when an ordinary person goes to a bank, he is simply lost and does not know which deposit to choose.
Firstly, it is worth deciding on the deposit currency, because both the terms of the deposit and the level of profit depend on this. The most common currencies for deposits are the dollar and the euro. However, recently the euro has been unstable and tends to fall, so it is worth giving preference to the dollar.
The main selection criterion is often the duration of the deposit agreement. It is worth noting that the longer the deposit term, the higher the interest rate and vice versa. However, this rule is not always relevant, because the deposit rate is a reflection of the level of inflation in the country, and sometimes the real level of inflation exceeds it, which entails losses in the long term.
Also, the possibility of interest capitalization has a great influence on the profitability of the deposit. This means that the depositor may not immediately withdraw interest on his deposit, but add it to the main body of the deposit. In this case, the profit on the deposit is significantly greater than with the usual option.
Advantages of short-term deposits
When choosing a short-term deposit, the main bet should be that it minimizes the risks of losing your money or incurring losses as a result of inflationary depreciation of money. After all, in a short period of time you may not feel negative fluctuations in the financial market.
As for foreign currency deposits, everything is ambiguous here. On the one hand, currency quotes do not change sharply, which means that in a short period there is a chance not to lose due to the difference in exchange rate. But at the same time, a short-term foreign currency deposit can bring profit only in the form of small interest without earning money on the difference in exchange rate (subject to a stable situation in the foreign exchange market).
There are a whole host of cases when a short-term deposit is more profitable for a particular investor than a long-term one. For example, if the investor knows exactly what amount and when he will need it, so he does not take risks for the sake of mythical gain. Also, the investor may anticipate the possibility that he may need the money and if he chooses a long-term loan, he will lose his high interest rates if he withdraws the money early.
There is one more nuance in short-term deposits. It concerns seasonal bonus programs. For example, a depositor puts money on deposit for a period of one year, but for subsequent years the contract is extended under new unfavorable conditions. In this case, it is more profitable to make two consecutive short-term deposits than one long-term one.
Be that as it may, banks are not interested in short-term deposits, and are trying by all means to attract long-term investments.
Banks where deposits are most often opened
- Sberbank
- VTB 24
- Gazprombank
- Rosselkhozbank
- Promsvyazbank
- Bank of Moscow
- Alfa Bank
Advantages of long-term deposits
Long-term deposits are considered more profitable for depositors and for banks. This is due to the fact that banks receive long-term investment, and in return offer attractive terms under the agreement (high interest rate, capitalization of interest, the ability to replenish and partially withdraw the deposit).
A long-term deposit is considered profitable due to the fact that it is subject to a high interest rate, but a high level of inflation in the country can reduce this benefit. And capitalization of interest will allow you to accumulate a decent fortune in your bank account.
Also, a long-term loan is more acceptable for foreign currency deposits, since in the future the dollar and euro will not fall below the stated level, and in the long term they will even rise in price. Such a deposit will allow the depositor to benefit twice as interest on the deposit and the difference in the exchange rate.
In order to make the right choice, the investor should think about the goal he is pursuing. If your goal is simply to save your accumulated money for future expenses, then, of course, you should choose a long-term deposit. And if the deposit is needed in order to wait until they are invested, then you should choose a short-term deposit.
Such a financial instrument as a deposit should not be underestimated, because it is the most popular type of investment. But at the same time, you need to think carefully about what type of deposit to choose and not lose and even earn. Choose an option that is acceptable to you and wait until the end of the contract to collect your legally earned money.
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